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Ryder Completes Acquisition of Cardinal Logistics

Feb 01, 2024•almost 2 years ago

Acquiring Company

Ryder System

Acquired Company

Cardinal Logistics

MiamiConcordLogisticsTransportationTransportation, Logistics, Supply Chain and Storage

Description

Ryder System, Inc. has completed the acquisition of Cardinal Logistics, further strengthening its leading position as a customized dedicated contract carrier in North America. The acquisition will enable Ryder to accelerate profitable growth in its dedicated business and create synergies for both Ryder and Cardinal customers. The transaction includes the full integration of Cardinal operations, facilities, and equipment into Ryder's dedicated transportation, fleet management, and supply chain businesses.

Company Information

Company

Ryder System

Location

Miami, Florida, United States

About

Ryder System, Inc. is a global logistics and transportation company founded in 1933 in Miami, Florida. It started as a single-truck operation and has grown into a multi-billion dollar enterprise with over 50,000 employees. Headquartered in Coral Gables, Florida, Ryder is publicly traded and operates through three main business segments. The company offers Fleet Management Solutions, which include full-service truck leasing, rental, and maintenance services. Its Dedicated Transportation Solutions provide tailored transportation services, including fleet management and compliance support. Ryder's Supply Chain Solutions encompass a wide range of services such as warehousing, logistics, e-commerce fulfillment, and last-mile delivery. With a diverse customer base, Ryder serves over 40,000 clients, including major manufacturers and retailers, by optimizing supply chains and enhancing operational efficiency. The company is committed to safety, sustainability, and innovation in its operations.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed